St. Paul, MN-based 3M reported second-quarter sales of $6.7 billion, an increase of 9.7% over second quarter of 2007. Profit was $945 million, an increase of 3%.
Growth in sales was driven by improvement in international markets, which now account for two-thirds of 3M sales. 3M sales in Latin America increased 32% over last year, and Europe achieved 18% sales growth, while Canada grew by 14%. Sales in Asia Pacific improved by 1%, 17% excluding optical headwinds.
Local-currency sales including acquisitions increased 4.6%, with growth led by Safety, Security and Protection Services, 25.6%; Industrial and Transportation, 8.6%; Health Care, 7.7%; Consumer and Office, 3.5%; and Electro and Communications, 2.2%. Sales declined 18.8% in the Display and Graphics …
3M Sales Up 9.7% in 2Q
St. Paul, MN-based 3M reported second-quarter sales of $6.7 billion, an increase of 9.7% over second quarter of 2007. Profit was $945 million, an increase of 3%.
Growth in sales was driven by improvement in international markets, which now account for two-thirds of 3M sales. 3M sales in Latin America increased 32% over last year, and Europe achieved 18% sales growth, while Canada grew by 14%. Sales in Asia Pacific improved by 1%, 17% excluding optical headwinds.
Local-currency sales including acquisitions increased 4.6%, with growth led by Safety, Security and Protection Services, 25.6%; Industrial and Transportation, 8.6%; Health Care, 7.7%; Consumer and Office, 3.5%; and Electro and Communications, 2.2%. Sales declined 18.8% in the Display and Graphics …
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